Stocks To Watch: Adani Green Energy, Aditya Birla Fashion, Fortis Healthcare, Tata Steel, Vedanta
Indian equity markets ended higher for the sixth straight session, not before registering another record high. The S&P BSE Sensex ended 0.3% higher at 47,746 while the NSE Nifty 50 index, came within 3 points of scaling the 14,000 mark before a slight cool-off in the final minutes of trade. The index eventually ended 0.35% higher at 13,981.
Here are the stocks to watch in trade today:
- Adani Green Energy: Adani Solar Energy Kutchh Two Pvt Ltd has commissioned 100 MWac Solar Power Project at Khirsara, Gujarat, ahead of its scheduled Commercial Operation Date according to its 25-year-long Power Purchase Agreement with the Gujarat Urja Vikas Nigam India. The PPA is priced at Rs 2.44/kWh, as on December 29, 2020. With this commissioning AGEL’s total operational renewable capacity grows to 2,950 MWac demonstrating a CAGR of 55% since March 2016.
- IFB Industries: The Board of Directors has approved amalgamation of Trishan Metals, wholly owned subsidiary with IFB Industries. The Scheme of Amalgamation will take effect from April 1, 2021.
- Filatex India: The installation of captive rooftop solar power generation of 1.0 MW at Dahej and 0.4 MW at Dadra has been successfully completed and commenced commercial operation with effect from December 30, 2020.
- FDC: To expand its production capacity by installation of an additional BFS machine at one of the company's existing plant located in Maharashtra. The estimated cost towards the enhancement of production capacity is around Rs 74 crore at first stage and around Rs 26 crore at later stage. The total production capacity of the said plant is likely to be increased by 30 to 33% after commissioning and completion of aII the Regulatory requirements.
- Fortis Healthcare: ICRA has upgraded the long-term rating for Line of Credit of SRL Limited, subsidiary, from A- to A. Further the rating agency has upgraded the long-term rating for Line of Credit of SRL Diagnostics, step down subsidiary, from A- to A.
- The Ramco Cements: The company has invested Rs 2.48 crore in the capital of Lynks Logistics by way of subscribing to 2.48 crore shares of Rs 1 each, through their Rights Issue. Consequently, the total shareholding of the company in Lynks Logistics stands at 49.95 crore shares of face value of Rs 1 each constituting 46.87% of its paid up share capital.
- Aditya Birla Fashion and Retail: The trading in the partly paid-up equity shares of the company will be suspended w.e.f. January 7, 2021 on account of payment of first call money.
- Indian Overseas Bank: ICRA has reaffirmed A+/Negative rating for Tier II Bonds (under Basel III) of Rs 1,100 crore and Lower Tier II Bonds (under Basel II) of Rs 1,000 crore. Further the rating agency has reaffirmed A- rating for Upper Tier II Bonds (under Basel II) of Rs 967 crore.
- HSIL: The Board of Directors has decided to close the buyback with effect from closing hours of December 31, 2020. The company has till date bought back 75.99 lakh shares at an average price of Rs 84.12 per share. Accordingly, the company has deployed Rs 63.92 crore, which represents 91.32% of the Maximum Buyback Size of Rs 70 crore. The value of equity shares bought back exceeds the minimum buy back size of Rs 35 crore and is more than 50% of the amount earmarked for the Buyback.
- Indian Bank: The bank has further raised Tier 1 Capital Fund through Private Placement of Basel Ill compliant AT 1 Perpetual Bonds aggregating to Rs 392 crore at a coupon of 8.44% per annum through BSE-EBP
- Vedanta: Has emerged as the highest bidder for the Radhikapur West coal block in Odisha which is at a distance of about 190 km from the company’s Jharsuguda Aluminium Smelter. The mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes.
- United Spirits: CRISIL has reaffirmed its long-term rating of AA+/Positive and short-term rating of A1+ for the total bank loan facilities of Rs 3,925 crore. Further the rating agency has reaffirmed AA+/Positive rating for Rs 750 crore NCDs and A1+ rating for Rs 500 crore Commercial Paper.
- Tata Steel: In its outlook for 2021, MD & CEO TV Narendran said that the company is optimistic about demand for steel in India. The company expects steel demand to grow proportional or higher to the GDP growth in FY22. It also expects global steel prices to remain firm as China is not expected to export large volumes. Demand-supply situation favours steel producers with strong international prices. Iron ore prices have seen a sharp rise and coal prices have softened.
- V-Mart: Has opened four new stores, three in Uttar Pradesh and one in Jharkhand. The company has also closed one store in Odisha. With this the total number of stores increased to 274.
- Fineotex Chemical: Nippon India Mutual Fund has acquired 66.08 lakh shares i.e. 5.96% of the total shareholding.
- Power Finance Corporation: The Board of Directors has revised market borrowing program for the financial year 2020-21 to 1.18 lakh crore rupees.
Pledge Share Details
- Chambal Fertilisers & Chemicals: Promoter Zuari Global revoked pledge of 6.50 lakh shares on December 28.
- The Ramco Cements: Promoter PR Venketrama Raja created pledge of 6.80 lakh shares on December 29.
- Mukand: Promoters revoked 2.75 crore shares on December 29.
- Adani Transmission: Promoters (Gautam S Adani and Rajesh S Adani) revoked pledge of 22.10 lakh shares on December 29.
- Adani Green Energy: Promoters (Gautam S. Adani and Rajesh S. Adani) revoked pledge of 3.29 lakh shares on December 29.
- Orient Electric: Promoters revoked pledge of 23.10 lakh shares between August 21 and September 24. As Reported On December 30
- Centum Electronics: HDFC Mutual Fund bought 4 lakh shares (3.10%) at Rs 421.19 per share and sold 3.72 lakh shares (2.89%) at Rs 420.72 per share.
- Chemcon Speciality Chemicals: Plutus Wealth Management LLP bought 10 lakh shares (2.73%) at Rs 428.52 per share.
- Borosil Renewables: Alpha Leon Enterprises bought 7.26 lakh shares (0.64%) at Rs 304.28 per share and sold 7.19 lakh shares (0.63%) at Rs 307.86 per share.
- GMR Infrastructure: Promoter GMR Enterprises sold 6.50 crore shares (1.08%) at Rs 27.09 per share.
- Southern Petrochemicals: Finquest Securities bought 42 lakh shares at Rs 24 per share. Minal Patel sold 42 lakh shares at Rs 24 per share.
Who’s Meeting Whom
- Max Healthcare Institute: To meet Nomura Financial Advisory on December 31.
- Ex Date Buyback: Engineers India, Industrial & Prudential Investments.
- Ex Date Bonus: Pilani Investment and Industries Corporation
- Price Band Revised From 10% To 5%: Borosil Renewables, Olectra Greentech.
- Price Band Revised From 20% To 10%: IFGL Refractories.
- Move In To Short-term ASM Framework: Confidence Petroleum India, CESC Ventures, Rupa & Company, SORIL Infra Resources, Gravita India.
- Move Out Of Short-term ASM Framework: Dollar Industries.
- Move In To ASM Framework: Xelpmoc Design and Tech, Matrimony.com.
- Godrej Industries: Promoter Anamudi Real Estates LLP acquired 12.62 lakh shares between December 23-28.
- Man Infraconstruction: Promoter Parag K. Shah acquired 1.46 lakh shares on December 29.
- West Coast Paper Mills: Promoter Veer Enterprises acquired 15,000 shares between December 28-29.
- Aarti Industries: Promoters (Valiant Organics and Chandrakant Vallabhaji Gogri) sold 43,221 shares between December 28-29.
- ISGEC Heavy Engineering: Promoter The Yamuna Syndicate acquired 20,000 shares on December 29.
- Nirlon: Promoter Shital Trading & Interiors sold 5,000 shares between December 28-29.
- Cantabil Retail: Promoters (Vijay Bansal HUF and Sushila Bansal) acquired 10,500 shares on December 28. As Reported On December 30